News Column

Cinda to Issue USD1.5bn Offshore Bonds

May 9, 2014

BEIJING, May 9, SinoCast -- China Cinda Asset Management has successfully priced USD 1.5 billion bonds through its offshore platform, the largest-scale US dollar-denominated bonds issued by a Chinese state-owned financial asset management company overseas by far and the first bonds issued by a Chinese financial institution to investors in the US adopting the 144A rule since 2005.

The bonds will be issued on May 14 and become tradable on the Stock Exchange of Hong Kong middle May.

The coupon rate of 5-year and 10-year bonds will be 4.000% and 5.625%. the raised capital will be mainly used to replenish working capital and make investments and for general corporate purposes.

Merrill Lynch, BOC International, Morgan Stanley, UBS and Credit Suisse are the global coordinators of the bond issuance. The five institutions, together with Standard Chartered Bank, CCB International, Cinda International, DBS Bank, CITIC Securities International, ABCI, ICBC (Asia) and Wing Lung Bank, will be the joint bookrunners and joint managers.

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Source: Sinocast Investing & Securities Beat (China)

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